Swissinvest increases rental income and plans issue
The capital increase, which is being considered for the fourth quarter, could raise CHF 65 million. In the last financial year, the fund expanded its portfolio with four acquisitions.
The Swissinvest Real Estate Fund increased the market value of its real estate portfolio by CHF 7.71TP3k to CHF 1.4 billion in the past financial year (reporting date: June 30). Rental income rose by around CHF 8% to CHF 49.4 million.
Four acquisitions
The fund acquired four properties with a volume of just under CHF 50 million. Two residential properties with 24 and 16 apartments respectively are located in Dietikon (Brunauweg 2-6 and Schöneggstrasse 149/151) and are directly adjacent to the property at Birmensdorferstrasse 7-11/Schöneggstrasse 145/147, which is already in the portfolio. With a contiguous plot area of just under 9,000 square meters, there is "interesting long-term development potential", writes Pensimo. In addition, the property at Hauptstrasse 5/5a was acquired as part of a consolidation of the existing neighboring property at Kirchgasse 1/1a in Frenkendorf. Finally, the fund acquired a fully let office property in Zurich-Albisrieden (Langgrütstrasse 112/Letzigraben 176), which is located in a four-storey residential zone. Expansion and conversion potential is to be exploited in the coming years. Swissinvest has invested CHF 13.4 million in existing properties and construction projects.
In addition to the investments made, a discount rate reduction of five basis points to 2.67% also contributed to the increase in the fund portfolio value. The average interest rate on financing fell by 61 basis points to 1.06%.
Net income higher despite higher costs
The rental loss rate increased from 2.89 to 3.64% due to construction projects. Despite higher expenses (CHF 26.5 million, compared to CHF 23.4 million in the previous year), net income rose from CHF 24.0 million to CHF 25.7 million. Due to a massive improvement in the valuation result, which shot up from CHF -1.3 million to CHF 42.6 million, total income improved significantly from CHF 22.8 million to CHF 54.2 million. The return on investment rose from 2.84 to 6.38%. However, the distribution of CHF 4.55 resolved by the Board of Directors remains unchanged. The distribution yield amounted to 2.16% (previous year: 2.36%).
Capital increase in Q4
The fund management company is considering a capital increase of CHF 65 million for the fourth quarter of 2025. The funds will be used to make investments in the portfolio and acquisitions and to repay debt capital in the short term.
